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The GOP's problem is obvious. They have taken a hostage they absolutely cannot afford to shoot- the US Economy.
That's why the president is "refusing" to negotiate- the GOP isn't holding any cards. Obama can lay the megaphone on the hood of his squad car, walk across the street to Starbucks, and chill.
A lot more logical place for the GOP to make a stand on spending cuts would be the sequestration and continuing resolution debates to come. As it is, they are like a guy who gets his credit card bill in the mail, and rants, "I charged too much last month! I REFUSE to make this payment!" Try that with your bank, and see how it works!
But there, I see I used "logical" and GOP in the same sentence...
I think the debate should be on how much to raise it, not the act of raising it or not.
We really have no choice in the matter. Geithner is paying USG bills with Federal pension money now and said he can only do that until February.
The GOP's problem is obvious. They have taken a hostage they absolutely cannot afford to shoot- the US Economy.
That's why the president is "refusing" to negotiate- the GOP isn't holding any cards. Obama can lay the megaphone on the hood of his squad car, walk across the street to Starbucks, and chill.
A lot more logical place for the GOP to make a stand on spending cuts would be the sequestration and continuing resolution debates to come. As it is, they are like a guy who gets his credit card bill in the mail, and rants, "I charged too much last month! I REFUSE to make this payment!" Try that with your bank, and see how it works!
But there, I see I used "logical" and GOP in the same sentence...
The debt ceiling does not need to be raised. The government should live within its means.
If there is no more limit on your credit card, you start paying for your purchases with CASH until you pay down your debt.
The debt ceiling does not need to be raised. The government should live within its means.
If there is no more limit on your credit card, you start paying for your purchases with CASH until you pay down your debt.
In other words, you are recommending that we only pay off a certain amount of what we already owe. That would be like saying, "I am only going to pay for half of my credit card bill."
In other words, you are recommending that we only pay off a certain amount of what we already owe. That would be like saying, "I am only going to pay for half of my credit card bill."
Why not ? That seems to be the American way..just walk away from your debt.
Look at mortgages, student loans, CCs for a perfect example of just how we are doing that today.
(yeah I realize the government can't do that but with so many individuals in America doing that I can see why they think this is no big deal).
Why not ? That seems to be the American way..just walk away from your debt.
Look at mortgages, student loans, CCs for a perfect example of just how we are doing that today.
(yeah I realize the government can't do that but with so many individuals in America doing that I can see why they think this is no big deal).
You realize that by doing this, our economy would crash huge don't you?
You realize that by doing this, our economy would crash huge don't you?
Did you not see my realistic comment in parens ?
The American mentality is to walk away from your debt..what can they possibly do ?
That mentality spills over to politics. I was just voicing that side.
The US already had their huge crash. We are stagnating and bouncing along the bottom, being propped up by Uncle Ben and his QE infinity program.
The American mentality is to walk away from your debt..what can they possibly do ?
That mentality spills over to politics. I was just voicing that side.
The US already had their huge crash. We are stagnating and bouncing along the bottom, being propped up by Uncle Ben and his QE infinity program.
You are so right in what you are saying.
Do you know how how many Americans from all walks of life, i know who have just walked away from their debts, and their homes.
Like it means nothing to them at all, doesn't faze them in the least. No fight in them at all, i was not raised like this. You meet your challenges head on. People and priorities have changed, and not for the better.
Can't afford it, you don't need it, have to use the creidt card for purchase, don't buy it, you will be here forever paying the interest on the damn cards.
And boy howdy does this mentality make it's way into politics.
I know a few people in the financial business, they still think, that the bottom has not hit rock bottom yet, hope they are wrong.
BHO is correct - you can't stop raising the debt ceiling.
A balanced budget is impossible.
Though it seems bizarre to claim such a thing, the law is clear.
1. Title 12 USC Sec. 411 defines a 'dollar bill' as an obligation (debt) of the U.S. government.
2. To authorize new 'dollar bills', Congress has to increase the debt.
3. Due to usury, there is always demand for more new 'dollar bills'.
4. Which means that to prevent economic collapse, Congress MUST run deficits.
5. Yes, it is INSANE, but cannot be challenged pursuant to clause 4, 14th amendment, USCON.
Eventually, it will collapse. The question is only when and how bad.
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